The Long & Foster Market Minute

Focus On: Severna Park Housing Market February 2019

Zip Code(s): 21146
Units Sold
21
Active Inventory
78
Median Sale Price
$620,000
Days On Market
110
Up
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in February, with 21 sold this month in Severna Park Real Estate. This month's total units sold was higher than at this time last year, an increase from February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1 units or 1%. The total number of active inventory this February was 78 compared to 79 in February 2018. This month's total of 78 is lower than the previous month's total supply of available inventory of 88, a decrease of 11%.

Median Sale Price
Last February, the median sale price for Severna Park Homes was $645,000. This February, the median sale price was $620,000, a decrease of 4% or $25,000 compared to last year. The current median sold price is 25% higher than in January.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
43
Current Contracts
35
Sold Vs. List Price
95.6%
Months of Supply
3.7
Up 7%
Vs. Year Ago
Up 13%
Vs. Year Ago
No Change
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In February, there was 3.7 months of supply available in Severna Park, compared to 6.1 in February 2018. That is a decrease of 39% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 43 homes newly listed for sale in Severna Park compared to 40 in February 2018, an increase of 8%. There were 35 current contracts pending sale this February compared to 31 a year ago. The number of current contracts is 13% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Severna Park was 95.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 110, higher than the average last year, which was 58. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute Severna Park are defined as properties listed in zip code/s 21146.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.